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If you broke the key you'll need to drill it out. I don't know the Smart that well, it might be the money container. If you don't need it: leave it.
There's no way to get a spare lock with the same key, so you'll need to order a used lock with key if you want it replaced.
I don't see any use for connecting a 1TB drive. The Smart is most likely a Celeron 266 processor with 64mb or 128mb memory. It might run either the DOS or Windows version of Photoplay software. You could update it to 2009, but it's not worth it as it's too slow anyway.
You could replace the whole mainboard, because this mainboard wil fit a Pentium 3 as fastest processor, not much you can do with that, but then you won't be able to run the real Photoplay games on it.
There are some DOS jukebox-tools, but I don't really like them. Also you'll need the hard drives swappable for that. It's a pretty closed system, Photoplay.